Businessmen Arkady and Boris Rotenberg will buy 79.4 percent of fertilizer firm Minudobrenia, part-owned by Norway's Yara International, from Dmitry Firtash, sources told Vedomosti.
One of the sources said Ukrainian tycoon Firtash would sell his holdings for about $2 billion, though other people close to the various parties in the complex transaction did not provide any details on the price.
Minudobrenia could not be reached for comment by the newspaper, it reported Thursday, and Yara said it does not comment on market rumors.
Several firms were in the running for privately held Minudobrenia, located in Russia's Black Earth region.
Eurochem, one of the world's top 10 agrochemical companies by capacity, in April said it planned to acquire the firm in a deal that valued it at $1.3 billion.
Firtash stepped in last month with a bid of $1.4 billion.
According to Vedomosti's sources, the Rotenbergs will acquire 79.4 percent of Minudobrenia through the purchase of Firtash's Cyprus-based Lagus Management holding company.